Don't let it get away!

The Dow is up on some markedly positive economic reports, while the S&P 500 is being weighed down by its largest component, Apple, which is down over 10% following worse-than-expected earnings. As of 1:25 p.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) is up 47 points, or 0.34%, to 13,826. The S&P 500 (SNPINDEX: ^GSPC) is up a fraction of a point.

There were three U.S. economic releases today.

Report

Period

Actual

Previous

Initial claims for unemployment

Jan. 12 to Jan. 19

330,000

335,000

Markit flash Purchasing Manager Index

January

56.1

54

Leading Economic Index

December

0.5%

0%

Source: MarketWatch U.S. Economic Calendar.

This morning the Department of Labor reported that weekly new unemployment claims fell by 5,000 to 330,000. The 330,000 new unemployment claims mark a five-year low and are far below analyst expectations of 360,000, which is roughly the level where new unemployment claims have rested all year. The four-week moving average fell by 8,250 to 351,750 -- also near a five-year low.

Also this morning, Markit announced its flash U.S. Manufacturing Purchasing Managers' Index, which gauges whether economic activity is expanding or contracting. Any reading greater than 50 indicates growth, and higher numbers indicate that managers are more confident in the improvement of the economy. The PMI's reading was 56.1 for January, 2.1 points ahead of December and above analyst expectations of 53, indicating that more purchasing managers see the economy growing than did last month.

The final economic release was the Conference Board's Leading Economic Index, which was up 0.5% in December, slightly above analysts' expectations of 0.4% growth. The index is made up of 10 indicators and is designed to signal peaks and troughs in the business cycle. The index was led upward by lower initial claims for unemployment insurance and more building permits issued, both signaling a strengthening economy.

With three markedly positive economic releases, it's no surprise that the Dow is up.

Today's Dow leaderToday's Dow leader is Cisco (NASDAQ: CSCO) , up 1.8% to $21. Cisco had a mediocre 2011, up just 6.4%, but it was a bumpy ride to a small year-end gain. In May 2012 Cisco issued guidance below analyst expectations, which sent the stock plummeting. It finally bottomed out in July around $15 per share. The rest of the year, Cisco slowly made its way back to where the stock started the year as the company turned things around and increased its dividend by 75% to $0.14 per share. With a low price-to-earnings ratio of 13, a rock-solid balance sheet, and a dividend yield of 2.7%, there's a lot to like about Cisco.

Once a highflying tech darling, Cisco is now on the radar of value-oriented dividend lovers. Get the lowdown on the routing juggernaut in The Motley Fool's premium report. Our report also has you covered with a full year of free analyst updates to keep you informed as its story changes, so click here now to read more.

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Dan Dzombak has written for The Motley Fool since 2008. He covers value investing, investing process, and success among other things. You can follow him on Facebook or Twitter by clicking the buttons below or head over to his blog at http://www.DanDzombak.com